UKX
appears to be bearish but on closer inspection of the weekly chart, it shows us that the bigger trend is still bullish.
Price is at a strong support area which could hold strong and send price back on its way up.
We can not predict the next move but we can be ready for the possible outcomes and take advantage of it.
If price starts to head back up then we can start to buy UK stocks.
If price breaks the support zone then we can start to look for shorting opportunities in UK stocks.
Either way we will be able to make profit in the market but we just need to be patient and wait to see which direction price moves next.
Any comments or questions, do not hesitate to leave them below.
Sublime Trading